Fosun failed to acquire units of Thomas Cook Group for $552m.

Fosun International, a Chinese international conglomerate and investment company, failed to acquire 75% of the equity of the Group Tour Operator unit and 25% of the Group Airline of Thomas Cook Group for $552m. The execution of the transaction remains subject to a legally-binding agreement being reached amongst the parties to the recapitalisation plan and, where appropriate, the Thomas Cook Group’s other key stakeholders. The proposed recapitalisation plan does not impact trade creditors or customers.